HCR Wealth Advisors Buys Shares of 2,319 Public Service Enterprise Group Incorporated (NYSE:PEG)

HCR Wealth Advisors bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,319 shares of the utilities provider’s stock, valued at approximately $207,000.

Other institutional investors also recently bought and sold shares of the company. LVW Advisors LLC lifted its stake in shares of Public Service Enterprise Group by 8.2% during the third quarter. LVW Advisors LLC now owns 9,252 shares of the utilities provider’s stock worth $825,000 after buying an additional 705 shares during the period. Towerpoint Wealth LLC acquired a new stake in shares of Public Service Enterprise Group during the third quarter worth $204,000. Merrion Investment Management Co LLC lifted its stake in shares of Public Service Enterprise Group by 4.6% during the third quarter. Merrion Investment Management Co LLC now owns 11,300 shares of the utilities provider’s stock worth $1,008,000 after buying an additional 500 shares during the period. Cypress Wealth Services LLC acquired a new stake in shares of Public Service Enterprise Group during the third quarter worth $228,000. Finally, Morton Capital Management LLC CA acquired a new stake in shares of Public Service Enterprise Group during the third quarter worth $245,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Public Service Enterprise Group

In related news, EVP Tamara Louise Linde sold 9,564 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total transaction of $866,594.04. Following the completion of the sale, the executive vice president now owns 48,397 shares of the company’s stock, valued at approximately $4,385,252.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total transaction of $124,295.60. Following the completion of the sale, the chief executive officer now owns 147,514 shares of the company’s stock, valued at approximately $13,305,762.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Tamara Louise Linde sold 9,564 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total transaction of $866,594.04. Following the sale, the executive vice president now directly owns 48,397 shares of the company’s stock, valued at approximately $4,385,252.17. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,010 shares of company stock valued at $3,397,855 over the last 90 days. Corporate insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PEG. BMO Capital Markets boosted their target price on shares of Public Service Enterprise Group from $78.00 to $86.00 and gave the company a “market perform” rating in a research report on Friday, August 2nd. Morgan Stanley boosted their target price on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. UBS Group boosted their target price on shares of Public Service Enterprise Group from $87.00 to $94.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Evercore ISI boosted their target price on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Finally, Royal Bank of Canada boosted their target price on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $84.62.

Public Service Enterprise Group Stock Down 1.2 %

PEG opened at $87.66 on Friday. The stock has a market capitalization of $43.66 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 2.72 and a beta of 0.61. The company has a fifty day moving average of $83.66 and a two-hundred day moving average of $76.23. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65. Public Service Enterprise Group Incorporated has a fifty-two week low of $56.85 and a fifty-two week high of $92.20.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 EPS. On average, research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 9th were paid a dividend of $0.60 per share. The ex-dividend date was Monday, September 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.74%. Public Service Enterprise Group’s dividend payout ratio is currently 66.48%.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.